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  • quiksilvr - Wednesday, February 18, 2015 - link

    This makes absolutely no sense. Why would you buy a company that is using magnetic stripe payment? The U.S. is already moving towards SIM and PIN cards (and NFC) so the lifetime this will have is maybe a few years before credit card companies fully enforce SIM and PIN (as they should).

    Can we just take a step back, look at the situation, and realize that the future is NFC/SIM and PIN, make standard terminals that can read them, and let Google, Apple, Softcard, whatever make whatever the hell app they want that works with it?
  • solipsism - Wednesday, February 18, 2015 - link

    To me, this seems like a reactionary answer to Apple Pay, not a well considered plan for advancing the convenience and security of digital payments. I think Apple's use of NFC with unique, per-device numbers and tokens that are only known by your financial institution, with additional authentication measures in the hands of the banks as the best method for everyone. I hope for the sake of Samsung's customers they plan on doing more than merely adding LoopPay to their devices.
  • toukale - Wednesday, February 18, 2015 - link

    Not again samsung. I know copying Apple back in the day putted you on a successful stretch until last year. But your obsession with that fruit company will lead to your downfall. If you still don't get it, Apple is not your main competitor anymore, the Chinese oem's are. So stop with having the urge to put a check mark next to whatever Apple marquee feature of the day is. Perfect example, Apple introduced siri, here comes a shittier version of s-voice. Touch id, samsung rolled out a half baked fingerprint reader. Apple Pay, hey we need something to counter those guys. Samsung, while you keep obsessing about Apple, the Chinese oem's are eating your lunch.
  • taligentia - Wednesday, February 18, 2015 - link

    The problem is Samsung doesn't want to compete with the Chinese OEMs. They want to be like Apple at the high end with their premium margins. Only problem is that they have no concept of "polish".
  • SkyBill40 - Friday, February 20, 2015 - link

    What's ironic is just how much Apple has copied Samsung over the years. Don't try to say they haven't either seeing as it's obvious.

    Also, Apple didn't do anything with Siri other than buy up the company that was making it for ALL three major platforms at the time. Apple? Innovative? Right. Innovative means doing something of your own, not buying up companies and trying to pass it off as something you did.
  • web2dot0 - Friday, February 20, 2015 - link

    So you think getting into payment is a good thing for Samsung? You are funny.

    "Copy" if you must, but don't do something you know it's gonna fail .... "EPICALLY". lol

    It's so sad to see you grasping straws.

    $178B Cash, $75B revenue ... more profit made than anyone can imagine ...

    Samsung on the other hand .... not so much.
  • SkyBill40 - Saturday, February 21, 2015 - link

    I didn't say Samsung getting into the NFC/wireless payment scheme was a great idea but really it's a foregone conclusion. They've had third party payment of that sort for YEARS now. It just humors me to see Apple acting like they came up with it first.

    You have no idea how successful Samsung will be with this or not. Seeing that they're one of the largest tech companies in the world with money to burn on it, I'm going with them being just fine over your opinion. Talk about "grasping at straws"...
  • aryonoco - Wednesday, February 18, 2015 - link

    Baffles me that the US still uses magnetic strips.

    Here in Australia, we've had NFC chips built into our credit and debit cards for over 3 years, and every single POS register and bank as well as Visa and Master Card support it. You just wave your card in front of the machine and the payment goes through. No swiping anything, no PIN and no signature.

    This is also why the "novelty" of Apple Pay is lost on me.
  • Flunk - Wednesday, February 18, 2015 - link

    It's the same in Canada and all over Europe. This only makes sense in the US and not for very much longer either.
  • Brandon Chester - Wednesday, February 18, 2015 - link

    Many countries that have NFC chips on the cards have a limit on how much can be spent in a transaction due to the fact that it has no authentication. In Canada it's $20, and I believe it's 20 or 30 GBP in the UK. Apple Pay has no such limit.
  • aryonoco - Wednesday, February 18, 2015 - link

    $20 is paltry! It's $100 in Australia, which covers pretty much all daily transactions.

    But in either case, that's not a technical limitation, it's a business decision on the part of the card issuing companies, and it can be changed in future.
  • Brandon Chester - Thursday, February 19, 2015 - link

    No, it's not just a business decision. Do you want someone who steals your card to be able to walk into stores and spend hundreds of dollars? Obviously you probably won't ultimately be held responsible for the fraud, but it's still a hassle for both you and your bank/card issuer. Security will not be an issue with Apple Pay like it is with cards that allow you to make transactions with no verification.
  • Murloc - Thursday, February 19, 2015 - link

    that's why it's a business decision. It's not a technical limitation.
  • hughlle - Thursday, February 19, 2015 - link

    I don't want someone stealing my card and spending £10. Why i just got a replacement card without contactless.

    Even if i had apple pay etc, i'd still take a wallet, or can you use apple pay to get physical money from an ATM? Where i live (s.e London) 90% of the businesses do not take any form of electronic payment, the few that do either have a minimum spend or charge 50p per transaction regardless of amount. Nope, i'll still keep my wallet for the ability to withdraw cash.
  • Murloc - Thursday, February 19, 2015 - link

    it's like that in most of the world, at least for street food vendors.

    Anyway I think you're overestimating the risk as the stolen money usually gets returned and you have to lose your card in the first place, so losing money has a quite low chance of happening, but whatever, I guess since you're not using it at all, it's better to have 0 risk.

    I know I've tried to use mine but either the personnel doesn't know about it and just wants to use the classic chip and pin system despite having the contactless reader right there, or it doesn't work/connect/it's a waste of time.
  • KPOM - Thursday, February 19, 2015 - link

    But that basically increases fraud risk for banks (which gets passed along to customers in the form of fees or reduced benefits). Setting a high limit for PIN/signature-less NFC transactions negates the advantage of going with a chip card in the first place.
  • Frihed - Thursday, February 19, 2015 - link

    That's true for cards, but using a smartphone this type of transaction have the potential to be much safer.
  • Friendly0Fire - Wednesday, February 18, 2015 - link

    Most merchants in Canada seem to be using $100 as a limit actually. That's the official Interac limit and I've had numerous instances of paying >$20 with NFC using a credit card.
  • Brandon Chester - Thursday, February 19, 2015 - link

    Oh really? I seem to remember being quoted $20 by TD. Perhaps the agent was mistaken, or its gone up.
  • Flunk - Thursday, February 19, 2015 - link

    The rep you talked to must be an idiot, I have a TD card and it's $100.
  • phoenix_rizzen - Thursday, February 19, 2015 - link

    It actually depends on a combination of what limits your bank sets on the card for NFC/RFID payments, and what limits the retailer puts on their terminals for NFC/RFID payments.

    For example, my MasterCard originally had a $20 limit on contactless payments 5-odd years ago when they introduced it. Then it was increased to $50 a year or two back. And now the limit depends on the retailer, or $100, whichever comes first.

    Coffee shops tend to have low limits (~$25). Grocery stores tend to have higher limits (~$100). Gas stations seem to be in the middle (~$50).

    It's actually a bit of a crap shoot on whether or not the payment goes through on the first tap, or if the chip needs to be inserted into the machine.
  • Flunk - Thursday, February 19, 2015 - link

    The limit is $100 in Canada. I know this because I've charged purchases of just under $100 using NFC.
  • taligentia - Wednesday, February 18, 2015 - link

    The point of Apple Pay is that (a) you don't have bring your wallet with you everywhere and (b) it is safer than using your credit card. If they ever expand it to loyalty cards e.g. Myer One, Nandos, etc it will be way, way more than just a novelty.
  • Murloc - Thursday, February 19, 2015 - link

    well most people need to carry a wallet even if they have no money in it because they have the ID card and health insurance card in it at the very least. Then add public transport subscription card or tickets, supermarket loyalty cards, aerial rescue membership, buy 10 get one free paper cards with stamps on them.
  • phoenix_rizzen - Thursday, February 19, 2015 - link

    I'm waiting for the on-phone wallet that supports all the store loyalty cards, all the store gift cards, and all debit/credit cards in one. If it supported transportation cards as well, that'd be a nice bonus.

    Then you only need the ID and medical card (which are being combined here in BC, Canada), a backup debit card, and that's it. Anything else can sit in the glovebox of the car. :) No physical wallet required (I haven't carried a physical wallet in 3+ years now, just 3-4 cards in my pocket).
  • SkyBill40 - Friday, February 20, 2015 - link

    NFC transactions aren't safer than someone asking you for your ID and comparing your info to that of your card. An assumption is made that you're who you say you are if you've got your phone... but that's the problem. What if someone's stolen your phone and you don't know it immediately? At that point, Apple Pay is worthless unless it requires some kind of code or something else before being able to approve the use of whatever cards you've got in there.

    Personally speaking, I'd be fine with NFC transactions... so long as the person checks your ID.
  • solipsism - Thursday, February 19, 2015 - link

    OK, let me see if I have this correct. Apple Pay is a "novelty" because it allows you to spend considerably more than $100 on purchase? Apple Pay is a "novelty" because it's actually a convenience that allows you to not carry a physical card with you? Apple Pay is a "novelty" because it has inherent security that, by your own admission, isn't even available on your cards so that they can be instantly used by others if even stolen?

    I think you should read up on Apple Pay and why this "novelty" is actually the secure and convenient method for protecting the banks, merchants, and customers from fraud.
  • phoenix_rizzen - Thursday, February 19, 2015 - link

    You still need a physical card as a backup, along with some actual physical currency. Not every retailer, hot dog vendor, pop machine, farmer's markets, etc supports contactless payment options. Or even debit/credit card payment options.

    ApplePay won't magically make contact payments available everywhere.
  • solipsism - Thursday, February 19, 2015 - link

    That's a strawman, and not a very good one.

    You might as well as that credit cards aren't worthwhile because some merchants will still only accept cash.
  • hughlle - Friday, February 20, 2015 - link

    Not really. If they only take cash then you just walk to the closest ATM and withdraw it. Last i checked apple pay doesn't support this rather important feature.
  • Speedfriend - Friday, February 20, 2015 - link

    "I think you should read up on Apple Pay and why this "novelty" is actually the secure and convenient method for protecting the banks, merchants, and customers from fraud."

    Except some banks are reporting fraud rate on Apple Pay of 6x the rate on normal cards, becuase criminals are loading up stolen credit card numbers!

    Apple Pay will have its uses, but given my Touch Id doesn't work first time every time, it could be come a serious pain trying to use at times, especially for something like the Tube in London.
  • Murloc - Thursday, February 19, 2015 - link

    this looppay is based on a dead technology that still exists only in the US in the first world so it doesn't make any sense to include it in phones.
    When the US catch up with the rest, the only market where this can work will disappear too.

    I hope samsung didn't pay too much for it.
  • Speedfriend - Friday, February 20, 2015 - link

    "this looppay is based on a dead technology that still exists only in the US in the first world so it doesn't make any sense to include it in phones.
    When the US catch up with the rest, the only market where this can work will disappear too.

    I hope samsung didn't pay too much for it."

    You may have heard of this region called the emerging markets, where amazingly they also sell smartphones and well equally amazingly many vendors can't afford the few hundred dollars to upgrade to NFC enabled POS machines....
  • megalee - Tuesday, February 24, 2015 - link

    Google did the smart move and bought Softcard!

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